Member Info for TheTrotsky

Seriously? I guess you and StarBright must have been on holiday in July when the Final Results were released because the issue of the Q3 dividend (or the lack thereof) was the "talk of the town" on this BB for days following and, needless to say, people were not happy for the very reasons you've been reciting (again) today. You two must be the only ones who didn't read the RNS or the BB.

Obfuscation? The language was quite clear (I don't think the use of the word "additional" clouded the interpretation in any way) albeit very disappointing. Given the amount of angst it's caused you might say that the Board made a mis-step but I guess at the end of the day £3.8m is £3.8m and, at that juncture, the Board took the decision that shareholder angst was better than burdening the company with additional debt. The jury is out on that one.

This share has had a secondary listing in the US for a number of years and that still hasn't prevented the share price tanking. If people think that transfering the primary listing to the US will miraculously change this company's prospects overnight, I think they'll find themselves sadly mistaken. Outisde of the M7, US investors seem to be just as savvy (or not) about valuation as UK investors and, whilst doubts persist about DEC's trading model, I rather suspect that US investors will not be piling into DEC just because it's gone from a secondary listing to a primary listing in the US. Timing is everything and US investors seem to have become a lot more circumspect over the last few years (the "dog" shares I've had that have transferred their primary listing to the US over the last 12 months have been treated just the same by US investors).

The one interesting aspect in all this, after the move has completed, is whether DEC will cut or cancel its dividend. US investors generally prefer capital over income for US tax purposes. Cutting/cancelling the dividend could boost the share price but it would be a trade off.

Regardless, GLA

TJL1875, The current expectation is that they will pay a 1.5p special dividend at the end of October, a further 1.5p sepcial dividend at the end of December (or perhaps mid-Janaury) and a normal quarterly dividend of 0.75p in mid-January. Subject to receipt of the final ITC instalment (receipt is expected towards the end of Q4) and external factors outside GSF's scope to control (e.g. Trump), payment of the second special dividend would appear to be more, or less, nailed on (based on the comments in today's RNS). Some people remain jittery about the quarterly dividend but, as yet, GSF has given no indication that they won't resume payment in mid-January. Hope that helps.

Da-Master, I'd agree that the sale of Cremzow may be a surprise but it doesn't seem to be necessarily without logic. It's a relatively small storage facility and it's completely out on a limb with few, if any, opportunities for economies of scale. At one time GSF might have had aspirations to acquire more German storage facilities but that's now a fading memory and relatively recent changes to the pricing in the local market no longer justify continuing to hold this asset (it no longer generates a premium return). A local buyer, with more local assets, can probably generate far better economies of scale and the money realised from a sale can be better used elsewhere.

Just one more aside, if I may. Assuming that GSF do declare a quarterly dividend in mid-December to be paid in mid-January, I wouldn't be entirely surprised if GSF delayed paying the second instalment of the special dividend to mid-Janaury too; on the assumption that it would be more cost and administratively efficient to do so. I don't think GSF should be castigated for that, if that is the rationale.

Richard08, GSF indicated in its Final Results, and other recent RNS, that it would now be looking to monetise its pre-construction assets (either by sale or joint venture). As far as I'm aware, GSF hasn't, as yet, given an indication of what pre-construction assets it's now looking to offload but I wouldn't be entirely surprised if they weren't looking to offload pre-construction assets in Texas. The Texas storage market seems to be particualrly reliant on favourable weather conditions to maximise annual returns and the last few years have been particularly unfavourable; the expectation is that, over time, returns should average out (good years should follow bad years and vice versa) but GSF may have determined that the significant "uncertainty" about the annual income (it's either feast or famine) is not particualrly condusive to paying a regular, settled dividend. Just my thoughts.

Dinvoft, Your digging a hole. This was known c3 months ago. You may have overlooked it but the market (and everybody else) was aware of this revelation when the Final Results were announced. It's not "new" information.

Personally, I believe they "kitchen-sinked" the normal dividend in their Final Results i.e. ignoring, say, the breakout of WWIII they should be able to maintain an annual dividend of 3p regardless (and hopefully make one-off, annual top-up dividend payments if revenues permit). I'd not expect them to struggle to pay 3p per annum given the new storage capacity now coming online. Of course there are no absolute guarantees but, when you make such a drastic cut, you would expect them to run numerous "worst case scenarios" before settling a figure. By contrast, when they cut the normal dividend to 4p previously it was only expected to be temporary until the new storage capacity came on line.

Dinvoft, You are correct in your assertion. GSF announced in its Final Results RNS on 17 July that no additional dividend would be declared in respect of the quarter ended 30 June 2025 (which would normally have been payable in mid-October) because of the special dividend (and it was not a popular decision, as you can imagine from some of vitriol this morning). The current expectation is that quarterly dividends will now resume and that a dividend of 0.75p will be declared for the quarter ending 30 September, albeit that some are suggesting this morning that GSF will probably renege on that too. GSF has given no indication to that effect but that's no guarantee especially given what's happened over the last 12-18 months.

IMO we'll just have to wait and see. I personally expect GSF to declare a dividend for the quarter just ended in due course (normally declared mid-December and paid mid-January) and will not be happy if it doesn't but I don't think any good purpose is served by castigating the board of GSF for what they might do rather than what they do do.

Steeltrader, I beg to differ. Try reading the RNS issued on 14 July and stop moaning. They clearly stated c3 months ago that they intended to pay the special dividend in two installments of 1.5p each, based on when the ITC receipts were expected to be received. If you can' read, that's not their fault!

Some people really need to learn to read before venting. The tax credits is being received in two tranches. The first tranche has now been received and a special dividend of 1.5p is being paid. The second tranche is expected in Q4, at which time a second special dividend of 1.5p will be paid. It's there in the RNS.

Speculation as to whether or not the Q4 ordinary dividend of 0,75p will be paid is just that. The Q4 dividend is not due for declaration until Q4.

Calm down or sell up and go elsewhere. The assets are located where they are located and are subject to the vagaries of the local markets. The company can't just up sticks and move the assets elsewhere, even if it wanted to. When the assets were originally built 1 hour duration was deemed the most cost effective (based on rates and cost of procurement). That's now changed and the company is adapting where it's cost effective to do so.

A reported 2m share trade @ 17.90p at 14:21 seems to have been the trigger for the share price to start recovering (with a further 1.6m trade @ 17.90p being reported at 14:30). All in all, a very good rise on the day. Let's hope that the recent share price weakness is now behind us.

You keep peddling this story without providing any source.. TPG did apparently make a non-binding offer for Access Storage earlier this year but the only evidence that I can find for a supposed offer for SAFE this year is you!

Hopefully the former rather than the latter ;-)

Everything does appear to be on course so I'm fairly relaxed for the moment.

Tenners, L2 market data doesn't tend to shed much more light on what's happening these days unfortunately. I think it used to be more revealing in the past and I have to admit I do sometimes wonder why I still bother with L2 market data. It may occasionally give a better indication of where the share price might be heading at a given point in time but it doesn't tend to reveal what trades are waiting to be filled in the background (certainly not for small caps at least). I would hazard that L3 market data is now what L2 market data used to be but it's too rich for my wallet.

I think too many people have exponential expectations for the share price rather than, more normal, logarithmic expectations. At the end of the last fiscl year to 5 April I targeted an expected share price of £1.50 next April and £2.00 the year after that.

Those price targets may sound rather conservative in some quarters but, when you recognise that the share price increased c212% in the year to 05-Apr 2024 and c138% in the year to 05-Apr 2025, more prosaic year-on-year increases of c68% and c33% respectively over the next two years look more realictic based on current trading expectations

It would certainly be nice if the share price was able to more than double each year ad infinitum but that would be at odds with normal reality.

MrMagorium, Conister has a UK banking licence and offers mortgages, personal loans and savings accounts to UK residents. I was just pointing out that it is an established, 90-year old, offshore bank (that now operates in the UK). I accept that Revolut is, on paper, a much larger bank but when your auditors resign because they can't trace upwards of 90% of your income you have to question how reliable that £1.1bn profit actually is ;-)

I totally accept that Conister wasn't the bank many people had in mind when Fiinu first announced the tie up; I was just responding to your original post that suggested that Conister wasn't a reputable bank (that's bunkum). Conister is a reputable bank and, arguably, a lot more reputable than the likes of Revolut. Conister was granted a deposit-taking UK banking licence back in October 2023 (it was the first Isle of Man-based bank to ever be granted a licence to accept UK deposits) and, unlike Revolut which still remains in the "mobilisation" phase 15 months after it was granted a (restricted) UK banking licence back in July 2024, is covered by the FSCS! Buy it or not, I know where I'd prefer to bank my money!

PS. I'd suggest that Payment Assist Limited's (PAL) 1m+ existing retail customers are exactly the type of customers who might want/need a plug-in overdraft. I have to admit that I don't know much about PAL but it would appear to be an app-based debt financing business and I would guess the opportunity to tie in their existing customers to a longer term overdraft, rather than shorter term loans, must have some appeal to Conister.

PPS. I'm not suggesting that Conister is the ideal partner (only time will tell) or that there wouldn't have been more fireworks if the tie up had been with, say, Revolut but that's not grounds to disparage Conister.

PPPS. One would have thought that those investors who recently susbcribed at 20p wouldn't have done so if they didn't think that this deal didn't have legs. Maybe Fiinu won't hit £1 by Xmas but it has to start somewhere and it has now at least been able to roll-out the product to one bank. Ultimately Fiinu wants to get it's own banking licence and that can't be done without a significant injection of new capital. I'd hazard that Fiinu might need to raise upwards of £50m to be able to raise the deposits it requires to operate a commercially profitable lending business (solvency requirements limit the the amount of deposits you can accept for a given amount of capital) and it's in no position to do that currently without wiping out the existing shareholder base.

... and, if we're going to start talking about "reputable" banks, Revolut (which several posters previously suggested might be the unknown bank, before this morning's RNS) hardly ticks that box; Revolut has previously failed to get a UK banking licence because there were significant concerns over its accounting and its auditor resigned because they had significant concerns about whether or not the accounts provided a true and fair view; they were unable to trace upwards of 90% of Revolut's reported income!

I'm not sure it's fair to suggest that Conister isn't a reputable bank. It was established in the Isle of Man 90 years ago.

It may be an "offshore" bank but let's not forget that the offshore banking concept was "created/nurtured" by the UK government in the aftermath of WWII to try and generate income for its offshore dependancies.

Until a few years ago, Conister was a bit of a "musty" old-fashioned bank without an online presence (you couldn't open up and operate a banking account online). A lot has changed and it clearly has plans to expand its UK banking presence.

Not sure adding €0.75bn in four months is necessarily as easy as you make out.

Everfex's 2024 figures were significantly bolstered by the acquisition of Staty Kurs in late 2024 (up to then it had been a loss making business) and I suspect the increase in customer numbers in 2024 would have been materially affected by the acquistion of this established cutomer base i.e the customer growth was predominatly purchased rather than organic.

Likewise, the 2024 revenue figures would have only included a part of Staty Kurs revenues from the date of acquistion; so the growth in the first half of 2025 may actually flatter to deceive (Staty Kurs was a materially larger business than Everfex).

Not saying that the business isn't growing but you can't compare 2024 with 2025 without taking account of when Staty Kurs was acquired.